The Real-World Impact of Test Automation for Financial Services

The financial services industry has undergone significant transformations over the past two decades, driven by the rise of the internet and smartphones, with consumers increasingly preferring to manage their finances online or through mobile apps, and 78% of people preferring to handle all their financial needs without human interaction. The rapid adoption of generative AI across financial services is expected to further transform the industry in months, not decades, requiring finservs to leverage continuous testing across their software development lifecycle to deliver quality applications faster. Finservs face unique challenges when developing banking and financial software solutions, including strict security and regulatory requirements, that can be overcome by leveraging continuous testing, automated testing, and secure proxy tunnels. Automated testing helps identify visual and functional bugs, improves customer experience, drives massive cost savings, and reduces the risk of security incidents, while also enabling financial institutions to deliver reliable, secure, and user-friendly digital experiences more effectively and efficiently than manual testing alone. With test automation, finservs can shift testing left, uncover the root cause of issues, accelerate their time to market for new features, improve code quality, and meet compliance requirements without lengthy code reviews.